Poste Italiane in talks to buy part of Vivendi's TIM stake, sources say

MILAN, March 28 (Reuters) - Poste Italiane (PST.MI), opens new tab is in talks with Vivendi (VIV.PA), opens new tab to buy part of its stake in Telecom Italia (TIM) (TLIT.MI), opens new tab, in a move which would make the state-backed conglomerate the leading investor in the former phone monopoly, three sources close to the matter said.
Last week, Vivendi cut its stake in TIM to 18.4% by selling a 5% holding in the former phone monopoly, in line with its earlier strategic decision to divest from the Italian telecoms operator.
Poste, which in February became TIM's second-largest investor with a 9.8% stake, is considering raising its stake further and taking the driving seat at TIM as Italy's telecoms market is seen ripe for consolidation, Reuters reported in February.
Poste is eyeing a stake of about 10% in TIM to add to its existing stake, said the sources who declined to be named given the sensitivity of the matter.
Poste would need to remain under the 25% threshold that triggers a mandatory buyout bid under existing rules in any stake purchase, meaning Poste could take at most another 15% of TIM's ordinary share capital.
The sources said talks are under way on the terms of a potential deal, with the aim of clinching an agreement before TIM's annual general meeting scheduled for the end of June.
Vivendi, which is looking to get a premium from the sale, could also opt to initially keep a residual single-digit stake, two of the people said.
Poste and Vivendi declined to comment.
Il Sole 24 Ore daily reported earlier on Friday, Poste and Vivendi were talking about a potential stake deal.
At current market prices, a stake of 10% in TIM is worth about 480 million euros.
Poste, whose business spans traditional mail and parcel delivery to energy, insurance and phone services, became a TIM investor in February when it acquired the holding from Italian state lender CDP as part of a plan backed by Italy's conservative government led by Giorgia Meloni.
Poste's further investment would come after TIM last year stabilised its finances by cutting debt through the sale of its landline grid to a consortium led by U.S. fund KKR under a government-backed plan.
Italy's Treasury Junior Minister Federico Freni said earlier this week Poste would be a suitable partner for TIM when asked if the state-backed financial conglomerate could replace France's Vivendi as TIM's single largest investor.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Daily Record

3 hours ago

• Daily Record

Celtic see Matt O'Riley windfall put in major jeopardy as 'preferred' suitor performs £30m Brighton transfer trick

A host of Italian clubs are on alert despite the Premier League side remaining keen to keep the playmaker at the AMEX In-demand Matt O'Riley has reportedly told Brighton he would prefer to join Roma this summer if he leaves the club. But that could leave Celtic's sell-on windfall at risk with the Serie A giants looking to avoid a major Financial Fair Play pitfall. ‌ The Hoops have already seen the Parkhead coffers boosted this summer by a sell-on windfall after Jeremie Frimpong 's move to Liverpool from Bayer Leverkusen. ‌ And the Scottish champions powerbrokers are on alert again amid reports that Napoli made a £25.6million (€30million) offer for the Danish international just 12 months on from his £25million Parkhead exit. Celtic hold a 10 per cent sell-on clause in the deal that took the 24-year-old to the AMEX Stadium last season - but the Seagulls are said to be in no rush to sell with talks "ongoing" over a deal. La Gazzetta dello Sport now claim Roma have already made contact with the midfielder's entourage with O'Riley "eager" to join the club. However, I Giallorossi are said to be 'formulating" a loan offer with obligation to buy next summer - with Brighton demanding £30million for the playmaker. It is noted that Roma are currently focussed on selling players to balance the books before the June 30 FFP deadline. O'Riley is said to be willing to wait for a move to link up with Gian Piero Gasperini - who is a big fan of the player having previously attempted to bring him to Atalanta from Celtic. ‌ O'Riley endured an injury-hampered debut campaign at the AMEX Stadium but showed flashes of his best form in the final weeks of the season. But the man himself has bemoaned the fact he's been unable to play in his favoured position under head coach Fabian Hurzeler - with Georginio Rutter deployed in the playmaker role. ‌ Speaking in his homeland, the Denmark international said: "I am not completely happy, and I am just giving my opinion. 'It makes it difficult to show off when you play a position you are not completely happy with. I can play better for the team if I play the number eight position, but I can play well in other positions. "You can say it in a way that is not aggressive. If you are honest with another person, you don't lose anything. The coach can always say he doesn't agree." You can get all the news you need on our dedicated Rangers and Celtic pages, and sign up to our newsletters to make sure you never miss a beat throughout the season. We're also on WhatsApp, where we bring all the latest breaking news and transfer gossip directly to your phone. Join our Rangers community here and our Celtic community here.

Daily Mirror

18 hours ago

• Daily Mirror

Liverpool could use two players to produce amazing transfer swap deal

Liverpool have already made big moves in the transfer market this summer and confirmed Florian Wirtz's arrival at Anfield on Friday but more major deals could await Liverpool have dominated the summer transfer window thus far. They've completed the biggest deal so far in securing Florian Wirtz's signature and could pay up to £116million for the privilege. And the Reds have also completed one of the most notable deals too by bringing in £10m for Trent Alexander-Arnold. The full-back moved to Real Madrid just weeks before his contract at Anfield was set to expire. ‌ But, according to reports in Italy, Liverpool could yet be involved in another mega deal. Arne Slot's side are said to still be interested in a striker and that could provoke some big movement. ‌ The Reds have been linked to moves for Newcastle star Alexander Isak and Eintracht Frankfurt's Hugo Ekitike and neither player would come cheap. But some creativity could make a move for another striker possible. Italian outlet Tutto Mercato Web claim Liverpool have made a proposal to Napoli for Victor Osimhen. The Serie A champions are keen to offload the Nigeria international after failing to sell him last summer and the Merseyside club may have come up with a solution for everyone. The Reds are reported to have offered up Darwin Nunez and Federcio Chiesa in exchange for the 26-year-old who starred on loan at Galatasaray in 2024/25. Osimhen has also been linked with Manchester United in addition and is said to have snubbed a move to Al-Hilal. Darwin is expected to leave Anfield this summer as he goes in search of greater playing time, while Chiesa has been told by new Italy boss Gennaro Gattuso that he must play more frequently to be part of his plans. 'In these days, I called 35 players [who did not make the squad], I spoke to everyone,' Gattuso said earlier this week. 'Even Chiesa, whom I told to play consistently. ‌ "There are players who have been out but who can lend a hand. The pitch speaks: if you do things well, the doors of the national team are open." Swap deals rarely move as smoothly however with so many moving parts beyond simply agreeing a deal. And it has been suggested that Osimhen may in fact be waiting for United to make their own move. Rio Ferdinand told his Rio Presents YouTube channel: 'No.9? They already know who I want. The comments know, the people know who I want, who I would go and get: Osimhen! 'It looks like he's turned down Al-Hilal… he must be waiting for Manchester United. I don't know if Manchester United are going to come. That's the problem.' Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice.

Powys County Times

19 hours ago

• Powys County Times

Mike Lynch's superyacht set to be brought to town where prosecutors are based

Tech tycoon Mike Lynch's superyacht is set to be taken to the town where Italian prosecutors investigating the sinking are based. Seven people died when the Bayesian sank off Sicily on August 19 including billionaire Mr Lynch, 59, and his daughter Hannah, 18. Salvage crews spent Saturday raising the 56-metre (184ft) yacht above the water using one of Europe's most powerful sea cranes near the fishing town of Porticello. They said that on Sunday the vessel will be taken to Termini Imerese, a town around 20km away, where prosecutors investigating the sinking are based. Italian prosecutors previously said raising and examining the yacht for evidence would provide key information for its investigation into possible charges of manslaughter and negligent shipwreck. The vessel was originally expected to be raised last month but salvage efforts were delayed after a diver died during underwater work on May 9, prompting greater use of remote-controlled equipment. About 70 specialist personnel had been mobilised to Porticello from across Europe to work on the recovery operation, which began last month. Inquest proceedings in the UK are looking at the deaths of Mr Lynch and his daughter, as well as Morgan Stanley International bank chairman Jonathan Bloomer, 70, and his wife, Judy Bloomer, 71, who were all British nationals. Fifteen people, including Mr Lynch's wife, Angela Bacares, were rescued. Mr Lynch and his daughter were said to have lived in the vicinity of London and the Bloomers lived in Sevenoaks, Kent.